Introduction

Market Size

• According to Businesswire, "subscription e-commerce provides the consumers with a way of signing up for goods and services which they require on a regular basis."
• The global e-commerce subscription market was valued at £9.63 billion ($13.23 billion) in 2018 and is projected to reach £348.13 billion ($478.21 billion) by 2025 growing at a compound annual growth rate (CAGR) of 68.0% from 2019 to 2025.
• The global market size of the e-commerce subscription market in 2021 is estimated to be £43.7 billion [£348.13 billion / (68/100+1) ^4].
• The market is segmented by application (personal care, beauty, entertainment, health, food and beverage, fitness, and fashion); region (Europe, North America, Asia Pacific, and the rest of the world); and end-users (kids, women, and men).
• Factors that have contributed to the growth of the market include the positive impact of Covid-19, accelerating disposable income, modern lifestyles, and changing consumer behavior.

Key Players

• Various industry reports such as Research and Markets, UnivDatos Market Insights, and Comtex indicate that the key players in the market include Personalized Beauty Discovery, Inc. (Ipsy), Unilever (Dollar Shave Club), and Blue Apron Holdings Inc.

Research Strategy

Calculations

Key Takeaways

•  Smartosc and Forbes report that the global live e-commerce market was estimated at $60 billion (43,668,399,762 pounds) in 2019. China reportedly has the largest market.
• Key players in the market include Alibaba, Amazon, and Byte Dance.
• Apparel and fashion is the leading category in this market, with about 35.6% of live streamers.

Introduction

Livestream E-commerce — Market Size

•  Smartosc and Forbes report that the global live e-commerce market was estimated at $60 billion (43,668,399,762 pounds) in 2019. China reportedly has the largest market.
• McKinsey also reports that the live-commerce market in China reached an estimate of $171 billion in 2020 with a compound annual growth rate of over 280% between 2017 and 2020.
• The covid-19 pandemic has intensified the growth of this market, and sales in China will reach 423 billion by 2023.
• The market is segmented into 4 regions, North America, Europe, Asia Pacific, and the rest of the world.

Key Players

• According to MarketWatch, the key players include Alibaba, Amazon, Byte Dance, Tencent, Kuaishou, Inly Media, and Pinduoduo.

Additional Findings

• A McKinsey report opines that the Chinese retail giant Alibaba's Taobao live stream pioneered the new approach in 2016. This approach involved combining online streams with e-commerce. However, it states further that this is an "emerging channel with many unknowns."
• Apparel and fashion is the leading category in this market, with about 35.6% of live streamers.
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• On Taobao's annual global shopping festival, live streams accounted for $6 billion in sales.
• Some identified challenges in the market are consumer readiness, choice paralysis, customer loyalty, and cost to set up.
• Additionally, the global live-stream market is expected to grow to $247,275 million in 2027. The market is projected to grow with a CAGR of 28.1% during the forecast period of 2020 to 2027.

Research Strategy

Key Takeaways

• The estimated market size of the global online personal styling market is £1.37 billion.
• The global online personal styling market is projected to grow at a CAGR of 12.45% during 2020-2024.
• The top 10 players in the market include Stitch Fix, Dia and Co, Nordstrom, Frank and Oak, Daily Look, JustFab, Wantable, Bombfell, Tog+Porter, and Le Tote.

Introduction

Key Players

• According to Nasdaq, Stitch Fix is the market leader in the online personal shopper/personal stylist space. It states that the company has far more search interest online than Amazon's Personal Shopper, based on data from Alphabet's Google Trends. Similarly, Yahoo has reported that Stitch Fix is the leading brand taking advantage of online personal styling trends.
• Based on the rankings of top10.com, the leading companies in the online personal styling space is as follows: 1) Stitch Fix, 2) Dia and Co, 3) Nordstrom, 4) Frank and Oak, 5) Daily Look, 6) JustFab, 7) Wantable, 8) Bombfell, 9) Tog+Porter, and 10) Le Tote.
• The key players in the styling app market include: Stylebook, Polyvore, Fashion Freax Street Style, Style Studio, Fashion Terms, Swaag, Cloth, Trendabl, and Chictopia.

Market Size

• The global market size of the online personal styling industry was not readily available. Hence, we will attempt to estimate the market size using the market share of the leading player in the market.
• We have used the fashion subscription market as a proxy since it directly involves personal styling, and since 4 out of the top 6 fashion subscription companies are featured in the top 10 players in the online personal styling space. Fashion subscription services hires personal stylists to curate the best outfits for its clients according to their preferences for a subscription fee.
• According to Bloomberg Second Measure, Stitch Fix dominates the fashion subscription market with around 85% of market share (based on the graph). At an annual revenue of $1.6 billion (Stitch Fix), we can estimate the total market size to be around $1.89 billion ($1.6 billion/.85). Converted to GBP this is approximately £1.37 billion. 

 

Source

Growth Rate

• Yahoo (source from 2020) states that online personal styling was a booming market before the pandemic, with online penetration currently 25.2%, expected to reach 40.3% in 2024. However, while the pandemic led to a surge in online retail, it also discouraged customers from getting new outfits. Hence, it is difficult to provide accurate forecasts.
• With the above information, we can calculate the growth rate of the online personal styling market between 2020-2024 as 12.45% (using a CAGR calculator).
• It was also found that fashion consulting, which is defined as "helping clients promote their public image through their wardrobe by evaluating their body type, personality, and career goals" has a projected CAGR of 19% between 2020-2028. 

Key Takeaways

• Over the years, the personalized clothing market has constantly witnessed immense growth and is still projected to grow.
• Custom-designed t-shirts have become the modern branding strategy for most companies. The increased and constant market growth can be linked to the increasing usage of customized t-shirts for brand promotions, movies, etc.

Introduction

• Information on the market size, growth rate, and key players in the personalized clothing market has been provided.
• This research identifies and presents the global market size and growth rate of the personalized clothing market. It was noticed that most direct information is paywalled. Therefore, the market size and predicted growth rates have been identified or calculated using the limited available data.
• An online currency converter is used to convert all figures from USD ($) to pound (£) using an exchange rate of 1 GBP = 1.374 USD.

Market Size of Personalized Clothing Market

• According to a report published by Statista, the global custom t-shirt printing market was valued at £0.84 billion (converted) in 2016 and was forecasted to reach £2.26 billion (converted) by 2025.
• The global custom-made clothes market was valued at £1,426.74 million (converted) in 2020 and is predicted to grow at a CAGR of 3.37% during the forecast period 2020-2027. The forecasted market size from 2021 to 2027 would be £1,274.82 million, £1,317.78 million, £1,362.19 million, £1,408.10 million, £1,455.55 million, £1,504.6 million, and £1,555.31 million respectively as computed below:

Calculations

• According to a report published by Grand View Research, the custom t-shirt printing global market was valued at £2.649 billion (converted) in 2020 and is expected to grow at a CAGR of 9.7% from 2021 to 2028.
• A report published by PR Newswire predicts that the global custom t-shirt printing market will reach £5.02 billion (converted) by 2027 with a CAGR of 9.6%. 
• The personalized t-shirt printing market can be segmented based on printing technique, design, and region.

Key Players

• Some key players in the custom t-shirt printing market include Vistaprint B.V., Threadbird LLC, and Printful Inc.
• Some key players in the global custom-made clothes market include Ermenegildo Zegna, Ralph Lauren, and Brioni. 

Research Strategy

Introduction

Findings

Market Size

• According to a report published by ThredUp and GlobalData, the global secondhand fashion market size is $36 billion (£26.197 billion) in 2021, and it is expected to be worth $77 billion (£56.041 billion) by 2025.
• The secondhand (secondary) fashion market comprises resale and traditional thrift & donations markets. However, "The resale market is growing at a rate 11 times faster than traditional retail and should be worth $84 billion (£61.127 billion) by 2030, with fast fashion predicted to be worth about $40 billion (£29,116 billion)."

The Market Growth Rate

• According to a survey conducted by BCG in 2020, the global secondary fashion market is projected to grow at a CAGR of 15 to 20% for the next five years. The developed markets and some online resale players could see a 100% YoY growth during the same period.
• The growth of the secondary fashion market is being driven by an increase in the number of consumers purchasing secondhand apparel and shoes and by the number of secondhand pieces being purchased per year. According to Euromonitor and BCG analysis, "A share of secondhand clothing in people's closets is predicted to grow from 21% in 2020 to 27% in 2023."

Key Players

•  Some major players in the secondary fashion market include:
• ThredUP
• Poshmark
• The RealReal
• Tradesy
• Buffalo Exchange

Research Strategy

Introduction

Carbon Offsetting Market Size

• According to Berenberg, a German bank, the value of global carbon offsetting was $600 million (€512.4 million) in 2019.
• The bank also estimates that by 2050, the market size will grow to reach $200 billion (€170.8 billion.)

Carbon Offsetting Market Growth

• Running the figures from Berenberg through an online CAGR calculator shows that the CAGR of the carbon offsetting market in general is 22.18%. 

Fashion Carbon Offsetting Market Size

• While there is no information in the public domain about the market size and the growth rate of the carbon offsetting market for the fashion industry, we have used data from Climate Neutral, a non-profit that works to reduce global carbon emissions. 
• Climate Neutral's mission is to "decrease global carbon emissions by getting brands to measure, offset, and reduce the carbon they emit." The organization has a list of 301 certified brands, 46 of which operate in the fashion and apparel industry.
• Climate Neutral provides each company's total emissions, the number of carbon credits bought, and the total investment in carbon credits. All 46 fashion and apparel companies invested a total of $8.2 million (€7.0 million) in carbon credits in 2020.

Key Industry Players

• Based on the total investment in carbon credits, the key industry players in the fashion carbon offsetting industry are Tentree, Nisolo, Reformation, Will's Vegan Store, Vuori, and Vincero. 
• According to market reports, the key players in the global voluntary carbon offsets market are:
• The South Pole Group: 11.14% of total market revenue.
•  Aera Group: 6.04% of revenue.
•  Terrapass: 4.39% of revenue.
•  EcoAct.
•  Carbon Credit Capital. 

Research Strategy

Calculations

Introduction

Virtual World Purchases Market Size & Key Players

• Free-to-play games that do not have any cost for downloading the game and only include the online cost for virtual goods often feature microtransactions. Microtransactions can be defined as "in-game purchases of virtual items for small amounts of money." Microtransactions are primarily done "to unlock specific features or enhance the special abilities, content, or character in a game."
• As per a report by the Business Research Company, the global online microtransaction market, which consists of sales of in-game virtual goods and its related services, is expected to grow from £24.3 billion ($33.4 billion) in 2020 to £25.2 billion ($34.59 billion) in 2021 at a CAGR of 3.6%. Additionally, the market is expected to reach £37.2 billion ($51.09 billion) by 2025, growing at a CAGR of 10% over the 2020-2025 period. All figures have been converted using the current exchange rate of $1=£0.727679.
• According to a report by ResearchandMarkets, over the medium term, the global online microtransaction market is expected to stabilize and grow at a CAGR of 6.1% to reach £30.5 billion ($41.92 billion) by 2023. The report states that the market size was £24.1 billion ($33.05 billion) in 2019. All numbers have been converted using the above-mentioned exchange rate.
• As per the research by ResearchandMarkets, some key players operating in the global online microtransaction market include Wargaming.net, SmileGate (CrossFire), Electronic Arts Inc., NCSoft, Riot Games, Inc., Nexon Co., Ltd., Activision Blizzard Inc., Valve Corporation, Tencent Holdings Ltd., and NetEase Inc., among others.
• According to Statista, globally, the consumer spending on virtual loot boxes and currency packs, which are common ways for players to make in-game purchases, is expected to increase from £11.1 billion ($15.3 billion) in 2020 to £14.8 billion ($20.3 billion) by 2025, growing at a CAGR of 5.8% {[(20.3/15.3)^(1/5)-1]*100}. A snapshot of the Statista data can be viewed here.
• In the gaming industry, the term 'skins' is primarily used for digital apparel designed for characters/avatars to wear. Gamers usually purchase different outfits using their in-game currency, which is either organically earned by playing the game or through real money. According to industry experts, the market for 'skins' in video games is likely to reach £36.4 billion ($50 billion) by 2022 from £21.8 billion ($30 billion) in 2018. This depicts a CAGR of 13.6% {[(50/30)^(1/4)-1]*100} over the 2018-2022 period.
• Some key brands that are active in the digital clothing ('skins') market for games include Louis Vuitton, Nike’s Air Jordan, and Burberry, among others. Louis Vuitton, in 2019, partnered with League of Legends (Riot Games) "to supply an exclusive in-game outfit for a limited time where users had to pay $10 to be able to compete for the skin."

Other Useful Findings

• According to a 2020 survey of MMO (massively multiplayer online game) players by Statista in the US, nearly 29.3% of players spent 26% to 50% of their total in-game spending on cosmetic items such as skins, emotes, clothing, and audio packs. A snapshot of the data can be viewed here.
• As per a report by Newzoo, nearly 81% of the players who are aware of in-game cosmetics want to trade skins for real-world money. Additionally, around 75% of players who are interested in skin trading state that "they would spend more on them if they had a monetary value outside of the game." Nearly 43% of players primarily use skins to change the appearance of their avatars/characters, weapons, and vehicles.
• Some most popular games that feature skins prominently include Fortnite, Roblox, League of Legends, and Call of Duty. As per Newzoo, big spenders, who are called 'whales,' spend, on average, more than $15 a month on skins. Almost "80% of Fortnite’s recent players engage with its cosmetics in some way." A typical skin on Fortnite costs between $2 and $20.

Research Strategy

Market Size

• According to Grand View Research, the global virtual fitting room market size was worth £1.98 billion ($2.73 billion) in 2020.
• Other market research sites like Verified Market Research and Fortune Business Insights provided similar figures.
• A virtual fitting room is an online changing room. It helps customers "try on clothes to check size, fit, or style in the virtual mode rather than physically. It scans the body of the shopper and fits the product" to the size of the customer.
• A virtual 3D fitting room aims to boost the confidence of customers and minimize the cases where a customer may decide to return/exchange a product as a result of fitting and sizing issues.

Growth Rate

• The global virtual fitting room market is expected to grow at a compound annual growth rate (CAGR) of 25.2% between 2021 and 2028.
• The factors driving growth in the market include increased adoption of intelligent technologies such as smartphones with high-quality integrated cameras, high-definition lenses, smart mirrors, artificial intelligence, virtual reality, and augmented reality. Other factors are rise in online shopping, improved customer experiences,

Key Players

• Three of the key players identified by multiple market research sites including MarketsandMarkets, Grand View Research, Verified Market Research, Fortune Business Insights, and CB Insights are Metail, True Fit, and Magic Mirror.

Research Strategy

Market Size, Growth Rate, and Key Players

• According to research by Verified Market Research, in 2020, the market size of the online clothing rental market was $1.19 billion (£866.53 million), with a projected CAGR of 8.51% from 2021 to 2028 to reach $2.29 billion (£1.67 billion).

 

Source

 

• Market research reports by Technavio and Research and Markets expect a $990 million (£721.01 million) market growth between 2021 and 2025, with a CAGR of 9.66% during the period.
• Across these reports, three of the key players include Le Tote, Rent the Runway Inc., and Gwynnie Bee. Others are The Clothing Rental, Swapdom, Mine for Nine LLC, Dress Hire, Style Lend Inc., Armoire Style Inc., Share Wardrobe, Flyrobe.com, Rotaro, La Reina Gown, and Glam Corner Pty Ltd.

 

Source

Research Strategy

Introduction

Market Size of the Sustainable Clothing Market

• Per the Business Research Company, Entrepreneur, GlobeNewsWire, and ResearchAndMarkets, the global sustainable clothing market size was worth £4.62 billion in 2019 after growing at a compound annual growth rate (CAGR) of 8.7% since 2015.

Growth Rate of the Sustainable Clothing Market

• According to the Business Research Company, GlobeNewswire, and data from ResearchAndMarkets, the sustainable clothing market is expected to grow to £6 billion in 2023 from £4.62 billion in 2019 at a CAGR of 6.8%.
• In addition, the sustainable clothing market is expected to grow to £7.14 billion in 2025 and £11.04 billion in 2030 at a CAGR of 9.1%.

Three Key Players in the Sustainable Clothing Industry

• As per WBOC, Business Wire, and The Cowboy Channel, the three key players that appeared the most times in different lists of key players in the sustainable clothing market are Adidas, Eileen Fisher, and Pact.

Research Strategy

Key Takeaways

• The 2020 global crowdfunding industry was worth £8.93 billion.

• The industry is expected to hit £18.78 billion during the forecast period from 2021-2027 at a CAGR of 11.2%.
• Three of the top players captured in the report are Crowdfunder Ltd., Fundable LLC, and AngelList Holdings, LLC.

Introduction

• The research provides the global market size and growth rate of the crowdfunding market, including the top players in the space and their websites.

Crowdfunding Industry

• In 2020, the global was valued at $12.270 billion (£8.93 billion).
• According to the industry report by Market Watch and corroborated by a news publication by Fox40, the global crowdfunding industry is expected to grow at a CAGR of 11.2% from 2021-2027.
• The market is expected to hit $25.800 billion (£18.78 billion) by 2027.

Key Industry Players

•  Top players in the industry include vendors such as:
•  Crowdfunder Ltd.
•  Fundable LLC 
•  AngelList Holdings, LLC 
•  CircleUp Network Inc. 
•  ConnectionPoint Systems Inc. 
•  Crowdcube Ltd. 
•  Fundrise LLC 
•  GoFundMe Inc. 
•  Indiegogo Inc. 
•  Kickstarter PBC.

Research Strategy

• Artificial Intelligence (AI) in Fashion is bifurcated into two segments: Services and Solutions. The Predictive Fashion Trends sector is part of the Solutions segment, based on descriptions from market research reports. However, there was no readily available data on the market size for the Predictive Fashion Trends sector, and no data points could be found that would aid in triangulating a viable estimate.
• Therefore, the research team elected to use the available data points to triangulate and calculate the market size for the Solutions segment so as to provide a closer estimate of the market size for Predictive Fashion Trends.
• According to a recent market research report, the global Solutions segment is expected to grow at a CAGR of 37% from 2020 to reach $1.7 billion by 2027. Using a Present Value calculator, the value of the Solutions segment in 2020 was about $187,674,363.35, or £136,467,413.31.
• To provide the top companies in sector, the research team began by exploring the top players identified in the market research reports. After analyzing over 20 companies identified as top players in the AI in Fashion market, only Heuritech and Intelistyle fit the profile of Predictive Analytics companies.
• Moving to the public domain, the research team found that multiple resources identified WGSN as among the most established players in the market, and the company for Heuritech to beat. It was also confirmed that WGSN offers Predictive Fashion Trends solutions.

Research Strategy

E-textile Market Size

• The global e-textile market was worth $2.981 billion (which converts to £2.1698 billion) in 2020. This market will grow with a CAGR of 19.1% between 2021 and 2026.
• The global e-textile market is currently worth $2.501 billion (which converts to £1.820 billion).

• E-textiles are electronic components used to create systems capable of reading, heating, lighting, or transmitting data. E-textiles will play an essential role in medicine, safety, and protection. The e-textile industry is emerging, and companies operating within the area will improve their chances of success by knowing the market technicalities, business challenges, and regulatory constraints.
• A survey conducted among 247 e-textile market players indicates that 14% use only conductive ink to produce e-textiles while 49% leverage conductive textile only.
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  Source
   
•  4% of market players use a combination of conductive textile and polymer to make e-textile, while 3% combine conductive ink and polymer. The total number of industry players leveraging conductive inks is 47%.

Key Players

• Some key players in the e-textiles market include Textronics, Milliken, Toray Industries, Peratech, DuPont, Clothing+, and Outlast. Other notable players in the market include Siren Care, Inc,

Siren Care

• Siren Care, Inc's annual revenue is $450, 000 which converts to £327,587.9. Siren manufactures e-textile on a commercial scale.

Textronics

• Textronics' annual revenue is $867 million (which converts to £630.97 million). KTVN and Marketwatch, among other resources, have identified Textronics as a key industry player in the e-textile market.

Milliken

• Milliken's annual revenue is about $3.4 billion (which converts to £2.75 billion.) The company made $2.5 billion in 2018. Over $1 billion of its 2018 revenue originated from the textile industry. KTVN and Marketwatch, among other resources, have identified Milliken as a key industry player in the e-textile market.
• We reviewed the annual reports, press releases, SEC filings, and other related documents. This process reveals that Milliken, Textronics, and several other players identified by multiple resources as essential in the e-textile sector do not disclose their revenue specific to the e-textile industry.

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Toray Industries

• Toray Industries' annual revenue is $4.902 billion. (which converts to £3.566 billion). KTVN and Marketwatch, among other resources, have identified Toray Industries as a key industry player in the e-textile market.

DuPont

• DuPont has annual revenue of $20.40 billion. (which converts to £14.845 billion). KTVN and Marketwatch, among other resources, have identified DuPont Industries as a key industry player in the e-textile market.

Outlast

• Outlast's annual revenue is $123,368. (which converts to £89,777.314). KTVN and Marketwatch, among other resources, have identified Outlast Industries as a key industry player in the e-textile market.

Research Strategy

Key Takeaways

• The global pop-up retail market size is approximately £36 billion. 
• Global retailers are using pop-stores as a marketing strategy 
• The global pop-up retail market is expected to experience significant growth post-COVID as retailers tap into the market to reduce operational expenses such as rent.

Introduction

• Pop-up stores are among the latest trends in the retail world. The global pop-up retail market is a £36 billion industry and growing.

• Both big brands and small players in the retail industry are using pop-up strategies to engage clients with creative products and outside-the-box thinking.
• Most global retail professionals have opened pop-up shops to improve market visibility, increase sales, and increase social media engagement, among other results.
• The global pop-up retail market is expected to experience significant growth post-COVID as retailers tap into the market to reduce their rental liability.
• As brands and retailers start to navigate the new challenges of delivering retail experiences, pop-up stores will be the platform of choice for brands seeking to engage with customers. Pop-ups will also provide a greater baseline foundation for retailers to conduct business again in the short term.

• Companies such as Nike, Amazon, Gucci, and Google have successfully used pop-up stores to market their products.

 

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Research Strategy